Turkish Firm Preps Maiden Hedge Fund

Jan 19 2010 | 9:19am ET

Istanbul-based asset management firm Kronos Investment Advisory is aiming to capture the upswing in the Turkey’s equity market with a new market neutral hedge fund.

The new vehicle, which is slated to launch this quarter, combines various valuation, quality, liquidity and behavioral models to invest in a long portfolio of 100-150 stocks that are listed on the Istanbul Stock Exchange.

“Due to the current difficulty of shorting stocks, the product right now is long only employing beta-hedged shorting index futures to arrive at a target zero-beta portfolio with annual risk of approximately 10%,” Cenan Civi, founder, told FINalternatives.

Civi is bullish on the transitioning of the Turkish market from an emerging market to a developing one.

“Turkey’s inflation has come down from as high as 80% since the beginning of 2001 to single digits. Out of the 1,000 largest corporations in turkey, 850 of them are now listed on the stock market so we expect many IPOs. All of these factors go hand in hand and the Turkish market will grow in many multiples over the next decade,” he said.

Civi previously worked as an investment analyst in Chicago at the Kinship Trust Company, a large single family office that manages a portfolio of private equity funds, hedge funds and emerging markets equities.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.